Kibbutz cos buy Netzer sensors from Wertheimers

Eitan Wertheimer  / Photo: Yossi Cohen

Kibbutz Yizre'el and Kibbutz Ein Harod (Ihud) will pay NIS 45 million for the precision motion sensors company, a source has informed "Globes."

Two neighboring kibbutzim in the Jezreel Valley - Kibbutz Yizre'el and Kibbutz Ein Harod (Ihud) - have fully acquired the activities of Netzer Precision Motion Sensors Ltd. for NIS 45 million, a source close to the deal has informed "Globes."

Netzer designs, manufactures and markets position encoders based on electric encoder technology that it has developed. The company produces a range of rotary encoders suited for applications ranging from harsh environment and defense, industrial automation, collaborative and medical robotics through unmanned vehicles and aerospace to special low orbit and deep space missions. Netzer was founded in 1998 by Yishay Netzer who togethewr witrh his family has a 30% stake in the company while the technology investment fund of the Wertheimer family has a 70% stake.

Kibbutz Yizre'el has spare cash after selling shares worth NIS 150 million in its swimming pool robot cleaning company Maytronics Ltd. (TASE:MTRN). The sale saw the kibbutz reduce its stake in Maytronics by 3% to 57%.

Kibbutz Ein Harod (Ihud) owns cryogenic cooling solutions company Ricor and will be a financial partner in the deal.

Published by Globes, Israel business news - en.globes.co.il - on November 1, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Eitan Wertheimer  / Photo: Yossi Cohen
Eitan Wertheimer / Photo: Yossi Cohen
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